Report
Jerôme Bodin

TF1 : Feedback from the Analyst Day, a more flexible and cash-generative model

>Analyst Day on the business model and outlook - TF1 yesterday held its Analyst Day. The group delivered a determined message on its strategy based on three main pillars: data, digital and production. The aim is to pursue the group’s diversification with a positive impact on margins and the return on capital employed (decline in WCR, on our estimates). This event lends weight to our conviction that FCF should rise sharply in the coming years (€ 215m in 2020 vs € 114m...
Underlying
Television Francaise 1 SA

Television Francaise 1 is a French general-interest television channel. Co. is an integrated communications group. Its activities cover the whole of the audiovisual industry: upstream in production, acquisition and sale of audiovisual rights and also in distribution of feature films to cinemas; downstream in sale of advertising space, and publishing and distribution of DVDs and music CDs. Co. is also engaged in home-shopping TV with Teleshopping, and pay-TV market. In addition, Co. produces multimedia content. Its activities can be divided into four sectors: Broadcasting France, Broadcasting International, Audiovisual Rights and Other Activities.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jerôme Bodin

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